The Great Depression

The Great Depression history, causes, effects & life during the economic crisis. The term Great Depression is used to describe the global economic crisis that resulted from the Wall Street crash of October 29, 1929. During this time of minimal investment and low levels of production, unemployment soared. Because many U.S. banks’ reserves were invested in the stock market, the resulting panic forced many to close their doors, taking their customers’ money with them. As a result of the collapse of the U.S. economy, investments abroad were pulled back and the European economy was also devastated. Despite massive government intervention in the years following the stock market crash, it was not until the rearmament preceding World War II that the U.S. economy began to fully recover. The links included herein relate to the economic crisis and The Great Depression.